Paramus, NJ 07652
404 Sette Case Study
Address: 404 Sette Drive, Paramus, NJ 07652 (404S)
Asset Type: Vacant Industrial (Litigation & Re-Tenanting)
Square Footage / Acreage: 53,000 SF / 3.7 Acres
Status: 100% Pre-Leased at Acquisition
Acquisition Date: 2022
STRO entered a contract to acquire 404 Sette Drive in October 2020 from an owner-user whose tenant was unlawfully holding over after lease expiration. The property presented significant legal and operational challenges but also strong long-term value due to its location and building fundamentals.
STRO assumed the seller’s active litigation and secured a summary judgment within a year, enabling the removal of the holdover occupant. Parallel to resolving legal encumbrances, STRO negotiated a long-term lease with a major nationally recognized automotive company for full-building occupancy.
The acquisition and repositioning of 404 Sette Drive underscores STRO’s expertise in navigating complex legal situations, unlocking trapped value, and delivering stabilized industrial assets in high-barrier submarkets.
